Terre Haute Savings Bank has announced it plans to build a new branch in Brazil at this location, 260 E. National Ave., occupied by Family Dollar store. The formal announcement was expected to be made at the Chamber of Commerce luncheon on Tuesday.
When Mayor Tom Arthur takes the podium to deliver his State of the City address at noon today, he will have some positive economic news. Before the mayor speaks to the crowd during the Chamber of Commerce luncheon at Brazil Family Restaurant, an announcement by Terre Haute Savings Bank is scheduled.
THSB is expected to announce it has reached an agreement to purchase property in Brazil where it plans to build a new banking facility.
The new facility is scheduled to be built at 260 E. National Ave., where the Family Dollar store is located, and will include teller, reception and office areas as well as drive-up banking and a full-service ATM (automated teller machine).
Construction is expected to begin in April with the banking center to open by October. Construction is contingent upon the bank's branch application receiving approval from banking regulators.
The bank is making a large investment in Brazil because officers believe in Clay County.
"Terre Haute Savings Bank has been a local community bank in the Wabash Valley for 137 years and believes strongly in the future of the Valley. We appreciate the importance of the communities that surround Terre Haute and understand that they are the life blood of the Wabash Valley. THSB is pleased to make this investment in the city of Brazil and we view Clay County as a strong market for the financial services we provide," said Bart Colwell, THSB president and chief executive officer, in a prepared statement.
Terre Haute Savings Bank's main office is located at 533 Ohio St. in Terre Haute, with banking centers located at 4729 S. U.S. 41 and S.R. 46 in Riley.